Regimes of security of financial settlement of imbalances

The “Security for the higher position” regime:

• In accordance with paragraph 7.2.1.2.1 of the Business Terms of OTE;
• The size of the predicted obligation from the settlement of imbalances is determined as the product of the current trading position * coefficient of predicted imbalance * parameter price;
• The current trading position of the particular trading day is determined as the sum of higher volumes of the volumes of deliveries and purchases of electricity in individual hours of the trading day, i.e. Σ_h=1….24 max(volume of deliveries, volume of purchases)_h;
• This regime is compulsory for subjects of settlement that have primary responsibility for imbalances resulting from different RUT or OPM (except virtual OPM’s for the purposes of registration of contracts on cross-border transfer and CT trading).

   The “Security for imbalance” regime:

• In accordance with paragraph 7.2.1.2.2 of the Business Terms of OTE;
• The size of the predicted obligation from the settlement of imbalances is determined as the product of the current trading position * parameter price;
• The current trading position of the particular trading day is determined as the sum of absolute values of differences of the volumes of electricity deliveries and electricity purchases in individual hours of the trading day, i.e. Σ_h=1….24 abs(volume of deliveries – volume of purchases)_h,
• This regime may only be used by subjects of settlement that do no have primary responsibility for imbalances resulting from different RUT or OPM (except virtual OPM’s for the purposes of registration of contracts on cross-border transfer and CT trading).

Security of other types of deals remains the same for both the regimes. You will find more detailed information in the “General Principles of RM of OTE” document.